This transcript has been automatically generated and may not be 100% accurate.

... I ... well yesterday disappointed investors to get in on the hill he plans on two billion dollars cash or ... was that mistake or older ... with lots more to watch is more overs with us to talk about it ... more and more power ... the area ... so let's talk about Apple's they looked ridiculous amount of money on the books a hundred billion dollars ... for years people been talking hasn't been growing ... people been saying that the use of the app to do something and done anything with it ... on ... are they doing the right thing by doing nothing ... history lesson in CED in answer to that that that that ... that ... that ... basically the cash or is this huge stage ... see in ... a speech ... that the ... role they have ... but it's better to let it sit for her ... what were ... the Prince ... said it is is that all ... this I think it's ... we haven't some trouble hearing Mark marketable owners on the moon you get ... the go ... yet what what I was I was that that that that much ... some of what it represents ... to give a ... due ... to the management to get up ... and that they have to show that they really were smart to keep that much of a book even know what they are earning next to no interest to earn interest rate so ... that kind of temptation to lead them to do something probably go sch on to these ... other companies historically on average from the that that much cash ... they pay happen something that they've ended up regretting and what may end up just a pity the money to shareholders who brought the rightful owner ... the net and he should have been taken away so ... I think the lesson of history is that Apple others didn't ... so what what ... it seems to make sense and ... are really market that has accompanied us focus on dividend growth and focusing on ... the aspects of the business of being stronger in another the strength of their business be able to ... to produce the dividend growth then ... on to the viewing images is likely in a physical fitness of a middle of an individual another person's time just sitting around being fat dumb and happy ... and is that that the sort of the ... the risk that Apple faces if it doesn't ... to maybe do something with this big catch board ... I fear it would take a good bet money that would produce a better rate of return then didn't eat ... it would be better off investing it in future development that's what they have not been doing ... and of the rhetoric and the pressures on him to go into debt for the bank ... get the kids to get the money to share all that many find ... unbelievable opportunity for him to get ... them at the plant they did that they have to go to the marketplace and the best and hope that that that when ... in order to determine whether it's worthwhile going forward the project and ... eight according to theory they get better off the second of it that the government of the graph of the but there's other blogs ... so we're talking about a hundred billion dollars I know that Steve Jobs though it was felt that was ... that that money was the strength of them will want to have on hand ... I mean ... hundred billion dollars bid to get out of ... the dividend and still had ... the tens of billions of dollars to surrender by whenever a company that wants ... to do both ... all or nothing here but ... the fact that they have a hundred they don't have not been anything with it ... in fact this year if temptation I'm talking about the pressure Mukhin and management ... to choose from ... and ... something ... that can be ... camping in that ... they think the good news tumbling ... even when iPrep does not ... seem to show the world with the dog something ... in that litigation is just something that is not really in the ... company bought from each of ... us so what forces this issue marks ... well ventilated ... start becoming a drag on the company's performance ... I cant that that that that and then the other thing is that they start to get you start getting them ... to prepare for good because the MNA activity ... produced a mother thing to make you scratch your head and wonder where the to do with that ... with ample measures were thought to be I'm not ... dumb ... they know that perhaps that they